Cleveland Research cut shares of Superior Energy Services (NYSE:SPN) from a buy rating to a neutral rating in a report issued on Thursday, MarketBeat Ratings reports.

Other equities analysts have also issued research reports about the company. SunTrust Banks reaffirmed a buy rating and issued a $12.00 price target on shares of Superior Energy Services in a research report on Friday, July 27th. ValuEngine raised Superior Energy Services from a sell rating to a hold rating in a research report on Friday, June 22nd. Jefferies Financial Group reaffirmed a hold rating and issued a $10.00 price target on shares of Superior Energy Services in a research report on Thursday, July 26th. Zacks Investment Research raised Superior Energy Services from a sell rating to a hold rating in a research report on Tuesday, July 31st. Finally, Stifel Nicolaus initiated coverage on Superior Energy Services in a research report on Monday, September 10th. They issued a hold rating and a $9.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $12.18.

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Shares of SPN traded up $0.04 during trading hours on Thursday, hitting $9.06. The company had a trading volume of 74,368 shares, compared to its average volume of 2,905,992. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.97 and a quick ratio of 1.56. The firm has a market cap of $1.49 billion, a PE ratio of -5.48 and a beta of 2.12. Superior Energy Services has a 52-week low of $7.66 and a 52-week high of $12.73.

Superior Energy Services (NYSE:SPN) last posted its quarterly earnings results on Tuesday, July 24th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. The firm had revenue of $553.55 million during the quarter, compared to analyst estimates of $532.07 million. Superior Energy Services had a negative return on equity of 16.43% and a negative net margin of 6.76%. Superior Energy Services’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) EPS. As a group, sell-side analysts anticipate that Superior Energy Services will post -0.8 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPN. NumerixS Investment Technologies Inc bought a new stake in Superior Energy Services in the 2nd quarter worth about $109,000. First Hawaiian Bank bought a new stake in shares of Superior Energy Services during the 3rd quarter valued at about $156,000. Element Capital Management LLC bought a new stake in shares of Superior Energy Services during the 1st quarter valued at about $161,000. Balter Liquid Alternatives LLC bought a new stake in shares of Superior Energy Services during the 2nd quarter valued at about $208,000. Finally, Glen Harbor Capital Management LLC grew its stake in shares of Superior Energy Services by 58.3% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 21,328 shares of the oil and gas company’s stock valued at $208,000 after purchasing an additional 7,856 shares during the period.

About Superior Energy Services

Superior Energy Services, Inc provides oilfield services and equipment to oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. The company operates in four segments: Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions.